Ascendiant Capital Markets Forecasts Strong Price Appreciation for Pro-Dex (NASDAQ:PDEX) Stock

Pro-Dex (NASDAQ:PDEX) had its target price raised by Ascendiant Capital Markets from $30.00 to $52.00 in a report released on Monday morning,Benzinga reports. They currently have a buy rating on the medical instruments supplier’s stock.

Separately, StockNews.com raised Pro-Dex from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 7th.

Pro-Dex Price Performance

Shares of NASDAQ:PDEX opened at $46.96 on Monday. The company has a quick ratio of 1.94, a current ratio of 3.41 and a debt-to-equity ratio of 0.36. The stock has a market cap of $153.04 million, a PE ratio of 30.91 and a beta of 0.39. The company’s fifty day moving average is $30.27 and its 200 day moving average is $23.20. Pro-Dex has a 52 week low of $15.70 and a 52 week high of $49.98.

Pro-Dex (NASDAQ:PDEX) last posted its quarterly earnings results on Thursday, September 5th. The medical instruments supplier reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.11. Pro-Dex had a return on equity of 16.74% and a net margin of 9.17%. The business had revenue of $15.03 million for the quarter. Research analysts anticipate that Pro-Dex will post 1.42 earnings per share for the current year.

Insider Transactions at Pro-Dex

In related news, CFO Alisha Charlton sold 1,000 shares of Pro-Dex stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $40.02, for a total transaction of $40,020.00. Following the sale, the chief financial officer now directly owns 15,339 shares in the company, valued at $613,866.78. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 47.50% of the company’s stock.

Institutional Trading of Pro-Dex

A number of hedge funds have recently modified their holdings of the business. FMR LLC increased its stake in shares of Pro-Dex by 34.9% in the 3rd quarter. FMR LLC now owns 3,973 shares of the medical instruments supplier’s stock worth $119,000 after acquiring an additional 1,028 shares in the last quarter. Perritt Capital Management Inc. boosted its holdings in Pro-Dex by 43.3% in the first quarter. Perritt Capital Management Inc. now owns 6,000 shares of the medical instruments supplier’s stock worth $106,000 after acquiring an additional 1,813 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Pro-Dex by 7.9% in the second quarter. Renaissance Technologies LLC now owns 12,240 shares of the medical instruments supplier’s stock worth $240,000 after acquiring an additional 900 shares during the last quarter. Bard Associates Inc. increased its holdings in shares of Pro-Dex by 17.6% during the third quarter. Bard Associates Inc. now owns 13,596 shares of the medical instruments supplier’s stock valued at $406,000 after acquiring an additional 2,031 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Pro-Dex by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 63,036 shares of the medical instruments supplier’s stock worth $1,238,000 after purchasing an additional 3,067 shares during the last quarter. Institutional investors own 15.28% of the company’s stock.

Pro-Dex Company Profile

Pro-Dex, Inc designs, develops, manufactures, and sells powered surgical instruments for medical device original equipment manufacturers worldwide. The company offers autoclavable, battery-powered and electric, and multi-function surgical drivers and shavers that are primarily used in the orthopedic, thoracic, and craniomaxillofacial markets.